EQS-News: Sto SE & Co. KGaA takes over distribution partner in New Zealand

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Stühlingen/Germany, 14 March 2024 – Sto SE & Co. KGaA, a major international manufacturer of products and systems for building coatings, is taking over its New Zealand distribution partner Stoanz Ltd, Wellington, on 1 April 2024.

Metadata
Provider: 
EQSEQS
Retrieved on: 
Wednesday, April 10, 2024
Information
Tags: 
News, Security (finance)
Geotags: 
DEUTSCHLAND, NEW ZEALAND
⚠ partially generated by AI ↴
Stock Symbol: 
ISIN:DE0007274136
Summary
Key Points: 
  • Stühlingen/Germany, 14 March 2024 – Sto SE & Co. KGaA, a major international manufacturer of products and systems for building coatings, is taking over its New Zealand distribution partner Stoanz Ltd, Wellington, on 1 April 2024.
  • Stoanz has been Sto's exclusive distribution partner in New Zealand since 1996 and in recent years has mainly generated turnover with facade systems.
  • The takeover supports our strategic goal of further expanding Sto's international market presence," emphasises Rainer Hüttenberger, Chief Executive Officer of STO Management SE, which manages the business of Sto SE & Co. KGaA as the personally liable partner.
  • Sto SE & Co. KGaA is a major international manufacturer of products and systems for building coatings.


EQS-News: Sto SE & Co. KGaA

/ Key word(s): Investment


Sto SE & Co. KGaA takes over distribution partner in New Zealand

14.03.2024 / 10:00 CET/CEST

The issuer is solely responsible for the content of this announcement.

P R E S S  R E L E A S E

Sto SE & Co. KGaA, Stühlingen/Germany

  • Sto SE & Co. KGaA takes over distribution partner in New Zealand
  • Stoanz Ltd has represented the brand exclusively in the Pacific state since 1996

Stühlingen/Germany, 14 March 2024 – Sto SE & Co. KGaA, a major international manufacturer of products and systems for building coatings, is taking over its New Zealand distribution partner Stoanz Ltd, Wellington, on 1 April 2024. The purchase agreement was signed on 14 March 2024. Stoanz has been Sto's exclusive distribution partner in New Zealand since 1996 and in recent years has mainly generated turnover with facade systems. In addition to the three locations – the head office in Wellington and the two warehouse locations in Auckland and Christchurch – Sto is taking on 23 employees.

Stoanz focuses on medium to high-end residential and commercial construction and supplies both new-build and renovation projects with customised facade systems. Due to the very strict building regulations in New Zealand, Stoanz has developed its own solutions with predominantly organic facade coatings. The systems are inspected and certified annually by the Building Research Association of New Zealand (BRANZ). Stoanz now considers itself the market leader in the field of high-quality facade systems in New Zealand.

"We are delighted that Stoanz will now become a wholly owned Sto subsidiary. The takeover supports our strategic goal of further expanding Sto's international market presence," emphasises Rainer Hüttenberger, Chief Executive Officer of STO Management SE, which manages the business of Sto SE & Co. KGaA as the personally liable partner.

 

 

Sto SE & Co. KGaA is a major international manufacturer of products and systems for building coatings. The company is a leader in the business field of external wall insulation systems. Sto's core product range also includes high-quality facade elements, as well as renders, plasters, and paints for building exteriors and interiors alike. Another focus is placed on concrete repair, floor coatings, acoustic systems, and rainscreen cladding systems.

Contact person at Sto SE & Co. KGaA:

Désirée Konrad, Chief Financial Officer of STO Management SE

Contact via phone: +49 7744 57-1241, e-mail: [email protected]

Contact to the media:

Claudia Wieland, Redaktionsbüro tik, tel.: +49 911 98817071, e-mail: [email protected]



14.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Sto SE & Co. KGaA
Ehrenbachstraße 1
79780 Stühlingen
Germany
Phone: +49 (0)7744 57-0
Fax: +49 (0)7744 57-2178
E-mail: [email protected]
Internet: www.sto.de
ISIN: DE0007274136
WKN: 727413
Indices: SDAX
Listed: Regulated Market in Frankfurt (General Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Tradegate Exchange
EQS News ID: 1858943



 
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1858943  14.03.2024 CET/CEST

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